NEARLY 1,100 TANKERS operated in Russia's crude oil and petroleum products trade since price caps were imposed by the Group of Seven (G7) countries and their allies on Moscow's oil and petroleum products from December 5, 2022 and February 5, 2023, respectively, as per an analysis of ship tracking data till November 15 by energy cargo tracker Vortexa.
Given India's newfound status as the largest destination of Russian crude following Moscow's February 2022 invasion of Ukraine, a sizable number of these tankers would have been involved in transporting oil from Russia to Indian refiners. India now accounts for nearly half of Russia's crude oil exports. Similarly, Russia is now India's largest source of crude as Moscow accounted for over 35 per cent of New Delhi's oil imports so far in 2023. "Tankers (totalling 1,089) in the Russian trade account for 75% of the opaque fleet; this includes tankers which have operated in more than one market. Tankers exclusively in the Russian trade (not in Iran and Venezuela) account for 66% of the opaque fleet,"Vortexa said in a recent report, adding that overall, 1,649 unique tankers operated in the opaque oil and petroleum products market since January 2021.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
